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Southern Latex fiscal Q3 profit climbs 66.1% YOY

Southern Latex Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 171,250 rupees, an increase of 66.1% from 103,130 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 11.1% from 5.4% in the year-earlier period.

Total revenue decreased 19.7% year over year to 1.5 million rupees from 1.9 million rupees, and total operating expenses increased 6.1% on an annual basis to 1.9 million rupees from 1.8 million rupees.

Reported net income came to 274,000 rupees, compared with 165,000 rupees in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.